1579 Pilgrim LnPlymouth, IN 46563

Property Details for 1579 Pilgrim Ln

Year built

2024

Lot size

0.76 AC

Property size (Sq ft)

2,546 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 2,546 square-foot Starbucks located at 1579 Pilgrim Ln, Plymouth, IN 46563. The property boasts a 10-year, double net (NN) lease commencing October 1, 2024, and expiring September 30, 2034, with four, five-year renewal options. The lease includes rent bumps of $2 per square foot every five years, ensuring consistent income growth. This single-tenant building sits on a 0.76-acre lot and is 100% occupied by a credit-rated Starbucks with a corporate guarantee, providing significant financial security. The property benefits from a strong 6.25% cap rate and a substantial net operating income (NOI) of $144,994. Strategically located off US Hwy 31 and North Oak Drive, this high-visibility site enjoys combined daily traffic counts exceeding 41,200 vehicles. The property is part of a thriving retail center, shadow-anchored by a Walmart Supercenter and featuring other national retailers such as Marshalls, Ross, Lowe's, Aldi, and many more. The nearest competing Starbucks is over 25 miles away, ensuring a large, exclusive trade area. This is a rare opportunity to acquire a high-performing, institutional-grade net lease investment with a strong tenant, excellent location, and significant long-term growth potential. The building was constructed in 2024 and includes a drive-thru lane.

Location Insight

City

Plymouth

County

Marshall

State

Indiana

Latitude

41.3617

Longitude

-86.3275

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